If a Business Manager Selected a Sample of Customers and Computed

question 129

Multiple Choice

If a business manager selected a sample of customers and computed the mean income for this sample of customers, she has computed:

• A) a statistic.
• B) an ordinal value.
• C) a nominal value.
• D) a parameter.

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Definitions:

Private Businesses

Enterprises owned by individuals or groups without governmental shares and not traded on the public stock markets, characterized by privately held ownership structures.

Entrepreneurs

Individuals who organize and operate businesses, taking on greater than normal financial risks.

Venture Capital Industry

The financial sector involved with providing funding to early-stage, high-potential, growth startup companies in exchange for equity or an ownership stake.

Pension Fund

A financial institution that collects and manages employees' retirement savings, investing that money to generate income for future pensions.